People’s Champion Finalist: The House Crowd
The property crowdfunding platform was the first business to enter the market but will it be first pick for your People’s Champion vote?
Start-up name: The House Crowd
Founder: Frazer Fearnhead
Started in: 2012
Based in: Hale
Business description: Property investment platform
The House Crowd story:
Said to be the world’s first company to bring the power of crowdfunding to residential property investment, The House Crowd (THC) allows you to purchase shares, alongside others, in specific properties for as little as £1,000.
Borne out of founder Frazer Fearnhead’s experience of working with investors who found it difficult to acquire property mortgages or did not want to deal with the banks, THC seeks to shake up the property market with a model which enables virtually anyone to earn a better return on property investment.
Comprising an equity model and an ‘income only’ model for investors, THC has quickly become an attractive service with over 10,000 members – 4,000 of which are now registered investors – and has achieved 211% growth over the last year.
While the business specialises in property crowdfunding, it recently turned to the crowd to fund its own growth and attracted over £465,000 investment within just two days of its campaign having gone live.
Having recently expanded operations into London, Liverpool, Warrington and Yorkshire, Fearnhead says THC has “injected people power into the once ‘elitist’ UK property market”.
Why The House Crowd made our 60:
THC is bringing property investment to the masses and its proposition is fast gaining traction with investment through the site set to hit £15m. As the first business to enter the property crowdfunding market and with phenomenal growth to date, THC rightly deserves its finalist nomination.